Consider the flexible budget information relating to direct labor costs for Logan Ltd.: 48,000 units 50,000 units 52,000 units Machining Finishing $2.50 per unit $1.50 per unit $120,000 $125,000 $130,000 72,000 75,000 78,000 $192,000 $200,000 $208,000 Logan's actual production was 51,000 units and the related cost was $205,500. What is the direct labor variance?
Q: Costs and Revenue MR MC D Quantity Based on the graph, you can answers. MR curve is defined as…
A: The quantity that maximizes social benefit is 10.0. The socially optimal quantity is where the…
Q: What products does apple sell?
A: Apple is a technological corporation that sells a variety of goods, such as services, software, and…
Q: PRICE (Yen per dollar) 9. Study Questions and Problems #9 The following graph depicts the supply and…
A: When real interest rates in the US increase, investments in US assets now offer higher returns in…
Q: One of the potential upsides of contractionary fiscal policy is a reduction in rev: 06_13_2018…
A: Contractionary fiscal policy is an economic strategy implemented by governments to reduce aggregate…
Q: please answer in text form and in proper format answer with must explanation , calculation for each…
A: Kindly check your attached file. I would be more than happy to assist you with the problem.…
Q: One reason for not requiring a balanced federal budget at all times is that with a balanced-budget…
A: Automatic Stabilizing Powers: In the event of a recession, the government's capacity to run deficits…
Q: (20.7) (1.35) Scenario 38-1. Consider the following OLS model applied to the data for workers wages…
A: In the given scenario, the OLS model estimates the relationship between workers' wages and years of…
Q: A drug company is considering investing $100 million today to bring a weight loss pill to the…
A: In the financial decision-making scenario depicted, a drug company chooses to either invest…
Q: 1. Study Questions and Problems #1 The following table contains data on the distribution of income…
A: The Lorenz curves for France and Canada have been plotted. As you can see, the curve for Canada…
Q: The following graph shows three possible indifference curves (I) for a consumer. DONUTS D E B CAKE…
A: In order to compare bundle B to bundle C on the indifference curve graph with three possible…
Q: Suppose we are considering a HO model setting, where countries have not yet opened up to trade. Two…
A: Task (i): Sketch a World Relative Price (CPC Line) for sketching a world relative price line, or a…
Q: connie turn down job offer with insurance company that would have her paid 70,000 per year to start…
A: Accounting Profit:Accounting profit considers only the explicit costs of running the…
Q: Isabella grows pumpkins. Her average variable cost (AVC), average total cost (ATC), and marginal…
A: Concept: A perfectly competitive firm will produce a good up to the point where its price matches…
Q: Below is a table with data on consumption and income. The table also contains information to…
A: let's get the slope:first we need the total of (xi-x̄)(yi-ȳ) and ( xi-x̄)2(xi-x̄)(yi-ȳ)= 0 + 0 + 2 +…
Q: As the number of suppliers increases in a market, the producer surplus increases. True O False
A: The question is asking whether an increase in the number of suppliers in a market leads to an…
Q: The following excerpt comes from page 96 of Brian Fagan's book The Little Ice Age: How Climate Made…
A: Approach to solving the question:Option B correctly integrates a direct quotation from the passage.…
Q: Problem #3: Labor Unions (20 points) Sarah is thinking if she should join the labor union in their…
A: Detailed explanation:Question 1: Work and Utility Calculation Sarah has to decide how many hours to…
Q: please answer in text form and in proper format answer with must explanation , calculation for each…
A: Detailed Explanation of Each Point:1. G (Government spending): In the IS-LM model, government…
Q: During times of rising inflation, the Fed will undertake monetary policy or "tight money policy."
A: Step 1:In economics, inflation refers to the sustained increase in the general price level of goods…
Q: Birth weight and smoking during…
A: 1)The Average Birth Weight is 3211.81 2)The average value of Birthweight for mothers who smoke…
Q: An increase in Medicaid expenditure brought about by a flu epidemic is. Decreased expenditures on…
A: The correct answer is: Option (B) automatic fiscal policy action; discretionary fiscal policy action…
Q: None
A: GDP Deflator Calculation: The GDP deflator is used to adjust nominal GDP to real GDP by accounting…
Q: Consider the economy represented by the aggregate supply-aggregate demand graph below, which is…
A: The correct answer is that economic growth will decrease as a result of the tax increase. To see the…
Q: Refer to the figure below and answer the question that follows. Excess Burden of a Subsidy: Market…
A: Detailed explanation: Area BCFE depicts the total expenditure by the government on renters. This…
Q: Consider a monopoly where the inverse demand for its product is given by P = 200 - 5Q. Based on this…
A: The correct marginal revenue (MR) function for a monopoly with the given inverse demand function…
Q: do fast i will 5 upvotes. dont't use chatgpt answer.
A: If the entire tax is collected from the suppliers, the supply curve (P=80+10Q) shifts by $30…
Q: Rent (Dollars per Month) 400 200 Excess Burden of a Subsidy: Market Effects C B 0 Q₁ F E Q2 A S =…
A: Detailed explanation: The graph you sent shows the effect of a rent subsidy on the market for…
Q: Quantity 1 2 345 678 Total Variable Costs Revenue 5 10 7 18 10 21 14 24 19 25 25 24 32 21 40 18
A: Hello! I would be more than happy to assist you with your problem. However, the attached image only…
Q: Over the past 100 years, the rate of return on stocks has averaged about after adjusting for…
A: In terms of returns over the long run, equities have, on average, done better than bonds over the…
Q: A statistical model in which the dependent variable is linearly related to one or more independent…
A: The statistical model you are describing, where the dependent variable is linearly related to one or…
Q: Explain the role of goverment managing externalities?
A: In a well-functioning market, prices efficiently allocate resources. However, markets sometimes fail…
Q: 2. Study Questions and Problems #2 Suppose a car sells for $21,000 in a market with no pollution…
A: The necessity for emission control devices or other modifications to comply with laws usually…
Q: Compound Amount Present Discrete Compounding; i=22% Single Payment Compound Amount Uniform Series…
A: Nordique Fab is evaluating a new investment in workstations and software for their design…
Q: 2. Constructing a Lorenz curve from income shares data The following table shows the approximate…
A: Peru is represented by green circles.Bulgaria is represented by blue diamonds.Lithuania is…
Q: Use the table to answer the question.Peter and Olga live near a lake with open fishing, and both…
A: In the field of game theory, the concept of a Nash equilibrium is used to describe a scenario in…
Q: Using the graph, shift the aggregate demand curve to depict the impact that a tax hike has on the…
A: Step 1: Aggregate demand (AD): The summation or total of all (G&S) goods and services in an…
Q: In which market structure does South African broadcasting industry belong to
A: The South African broadcasting industry exhibits characteristics of an oligopolistic market…
Q: An economy with competitive markets has 2 kinds of jobs, Routine & Skilled. There are 2 types of…
A: So, the maximum level of education that Qualified workers will obtain in a separating equilibrium…
Q: 1. Specialization and trade A country may specialize in the production of a good that it can produce…
A: Candonia has a comparative advantage in the production of grains while Sylvania has a comparative…
Q: The government allows sulphur dioxide emissions of 4 parts per billion and has a tradable permits…
A: n this scenario, the government has set a limit of 4 parts per billion for sulfur dioxide emissions.…
Q: None
A: To determine whether the statement "If you go to Home Affairs early in the morning, you will be…
Q: How to calculate Warren's hours worked with a benefit guarantee of $10,000 with a 50% reduction…
A: To calculate Warren's and Shannon's hours worked with a benefit guarantee of $10,000 and a 50%…
Q: The image upload answer is not allowed please dear expert
A: The Herfindahl-Hirschman Index (HHI) is a measure of market concentration used to assess the…
Q: 2. Study Questions and Problems #2 In the following table, indicate whether each characteristic is a…
A: Income inequality- capitalism.Underprovision of public goods - CapitalismFailure to protect the…
Q: 2. Suppose that college students in your town persuaded the town council to enact a law setting the…
A: (a) Quality of rental housing:Without the ability to charge market-rate rents, landlords would have…
Q: Resource pricing is important because Multiple Choice resource prices are a major determinant of…
A: 1.Resource pricing is important because it plays a crucial role in:Determining money incomes for…
Q: please answer in text form and in proper format answer with must explanation , calculation for each…
A: We must identify the price point at which domestic quantity provided exceeds domestic quantity…
Q: The director of Computer Associates, Inc (CAI) has been assigned the task of developing the profile…
A: To calculate these probabilities, we need to first determine the standard error of the sample mean…
Q: Chegg Home Expert Q&A My solutions Student question Time Left: 00:08:58 The table below shows the…
A: Given;Type I customers are willing to pay up to 8 (6 for nuggets + 2 for fries).Type II customers…
Q: projected future expenditures on entititlemt programs such as social security and medicare are…
A: Demographic Shifts: As populations age, there are fewer working-age individuals contributing to…
Step by step
Solved in 2 steps with 1 images
- Which costs are measured on per-unit basis: fixed costs, average cost, avenge variable cost, variable costs, and marginal cost?Your boss is the director of reporting for the Athens County Construction Agency (ACCA). It has been his job to track the cost of construction in Athens County. Twentyfive years ago, he created the ACCA Cost Index to track those costs. Costs during the first year of the index were $14 per square foot of constructed space (the index value was set at 100 for that first year). This year a survey of contractors revealed that costs were $70 per square foot. (a) What index number will your boss publish in his report for this year? (b) If the index value was 500 last year, what was the cost per square foot last year?2. The total design and construction cost for a digester to handle a flow rate of o.5 million gallons per day (MGD) was $1.7 million in 2o0o. Estimate the cost today fora flow rate of 2.0 MGD. The exponent for the MGD range of 0.2 to 40 is o.14. The cost index in 2000 of 131 has been updated to this year. 225 for
- ATC, AAC, AVC, MC (/uni 270.00 24000 21000 180.00 150.00 120.00 10:00 60.00 30.00 0:00 02 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 Units of Output (0) Unit Cost Curves Refer to the graph above. The curves are not labeled. To help get this question right, you must first label the curves. An output level of 18 is identified with the dark vertical line. The shaded rectangular area (height times width) is the O average sunk cost. O total sunk cost O total avoidable fed cost. O total avoidable cost. O None of the aboveAssume you were hired as a Production Engineer in a global Bearing Manufacturer company and given the following inputs: Equipment Maintenance Cost per Month Utilities Cost per Month Material Cost per Unit Labor Cost per Unit Selling Price per Unit S60,000.00 $12.000.00 $12.00 $3.00 $24.00 Calculate Total Fixed Cost per Month Calculate Total Variable Cost per Unit = Calculate number of Units to be sold to reach Break-Even Point = Calculate number of Units that must be sold to eam profit of $90,000.00Consider a power system with three generators. Each generator has a piecewise linear cost function defined by the following points. Generator 1 Generator 2 Generator 3 Production (MWh) 100 200 300 400 200 400 600 800 100 400 700 1000 Cost ($) 915 1760 2635 3540 1870 3530 5230 6970 1060 3460 6040 8800 The min/max production of each generator corresponds to the min/max production values in the table (i.e., Generator 1 produces at least 100 MWh and no more than 400 MWh). (a) Plot the inverse supply function for this system. (b) If the demand is completely inelastic and equal to 1600 MWh į. compute the electricity price. ii. calculate the gross consumer surplus, consumer surplus, the producers revenue, the producers profit, and the global welfare. iii. determine the production level, cost, revenue, and profit for each generator.
- Martinez Company's relevant range of production is 7,500 units to 12,500 units. The unit costs when it produces and sells 10,000 units are provided in the table. If 12,500 units are sold, what is the variable cost per unit sold? Amount per unit ($) Direct materials 6.00 Direct Labor 3.50 Variable manufacturing overhead 1.50 Fixed manufacturing overhead 4.00 Fixed selling expense 3.00 Fixed administrative expense 2.00 Sales commissions 1.00 Variable adminsitrative expense 0.501. Determine the variable cost per unit and the fixed cost using the high-low method.2. What is the equation of the total mixed cost function?3. Prepare the scatter diagram, clearly showing any outliers.4. Using the line of best-fit, determine the company’s fixed cost per month and the variable cost per unit. (Use 0 & 5,000 units.)5. In view of the department’s cost behaviour pattern, which of the two methods appear more appropriate? Explain your answer.TC 400+150Q-3Q2 +0.02Q3 400 Based on this equation, find total fixed cost calculate total fix cost -
- When using the Top-down Cost Estimation Approach.. Note: This is a Multiple Answer question. Select all the following answers you think are correct. O required price is an output variable O None of the other options listed O required price is an input variable O cost estimates are an output variable « PreviousThe cost, in millions of dollars, of building a three-story high school in NewYork State was estimated to be: 2C x x x x 1.7 0.14 0.0001 20 400where x is the number of thousands of square feet. Suppose that you arecontemplating building a for-profit three-story high school and estimate thatyour total revenue will be $0.2 million dollars per thousand square feet.(a) What is minimum area for a three-story high school in New YorkState, that this model covers? (b) What is the variable cost of building a three-story high school in NewYork State? (c) What is the fixed cost of building a three-story high school in NewYork State? (d) Determine the profit function,P x( ), for building a three-story highschool in New York State? . (e) Determine,P(250) , for building a three-story high school in New YorkState, and interpret the result. (f) How many thousands of square feet should a three-story high schoolbuilding in New York State be in order to break even?calculate and plot the following: No of Units Total Cost 0 5 1 9 2 12 3 15 4 20 5 30 6 42 a) Variable cost b) Fixed Cost c) Average Fixed Cost d) Average Variable Cost e) Maginal Cost